CSS- Social Security update for Panamanians

Economy

All contributors to the Social Security Fund (CSS) that belong to the mixed subsystem of pensions have, as part of their personal savings component, a total of $ 821 million , according to the unaudited information of the institution, reported until 2016 .

Mixed program reports $ 2,457 million in assets
CSS pension money runs out
‘We are going to the CSS in search of health, but we do not know how we will come out’
Bureaucracy in the Social Security Fund, key in shortage
Since this system was created, a decade ago, none of the contributors knows the current status of the management of these funds and investments made by the CSS. This is because the entity does not provide financial reports and much less does it to each insured to know what has been saved in his personal account.

Due to the way in which this mixed system is structured, contributors must contribute more than 40 continuous years to retire with 60% of their salary. The number of retirees who have the program will also influence.

In the reserves of this system there is also a defined pillar, so that a part of the worker-employer contribution paid by the contributors is jointly and severally with the rest of the insured.

The total of this mixed program, including personal savings, adds $ 2 thousand 457 million in assets.

READ MORE:https://impresa.prensa.com/panorama/Cotizantes-CSS-millones-ahorro_0_5108489135.html

No Comments

Leave a Reply

Your email address will not be published. Required fields are marked *

Canal
FOREIGN MINISTER already making the rounds on social circuit as PANAMA passes “velvet rope”.

Let the “dog and pony” show begin. PANAMA makes it to the VIP Room.  The foreign minister emphasized that removing the country from the list was one of the current Panamanian government’s priorities “from day one.” Panamanian Foreign Minister Javier Martínez-Acha celebrated Panama’s removal from the European Union (EU) money …

Economy
Despite robust numbers, most PANAMANIANS not feeling benefit of economic growth.

https://www.laestrella.com.pa/economia/hacer-economia-como-si-la-gente-importara-la-cara-de-la-inequidad-en-panama-AF14229889 Panama’s economic growth is not reflected in the quality of life of most of its citizens. While macroeconomic figures are used as a political argument, social indicators show growing inequality, unemployment, and social discontent. Some time ago, I was speaking with the former president of the Colon Free Trade …

"JB"
Cacao season kick starts in Bocas. Look soon for “CACAO 70”.

“JB”- A buddy of mine has started to cultivate his own Cacao processing out of Bocas del Toro, as Cacao demand increases worldwide. It will be distributed via “MI BELLA IMPORTS”. I wish his group the best as I am aware he is sitting on a mountain of Cacao down …